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I sold my rental property. How/where can I get allocation info for sales and expenses between asset and land?


@lbeachmike wrote:

....I would expect to see a difference in my total tax by using different allocations - however, regardless of how I allocate, I get precisely the same result.


The allocation is strictly for the purposes of the program; you will not see a different tax result.

 

Capital gain is capital gain, whether it is gain from the land or the structure. The only variable in this equation is depreciation and, obviously, only the structure is subject to deductions for depreciation (and subsequent recapture on a sale).

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